The former Aetion and Remedy Partners CEO
joins Define to further drive innovation across provider, payer,
and pharmaceutical sectors
SAN
FRANCISCO, March 11, 2025 /PRNewswire/ -- Define
Ventures, one of the largest venture capital firms focused on
early-stage health tech companies, today announced that
Carolyn Magill, former CEO of
Aetion, has joined the firm as venture partner. Magill, leveraging
her 25 years of invaluable experience scaling companies and
fostering innovation within payer, provider, and pharmaceutical
organizations, will partner with Define founders to scale their
companies and become category-defining companies.
Carolyn is a seasoned healthcare executive and two-time CEO,
having held executive leadership positions across multiple corners
of the ecosystem. Prior to joining Define, Carolyn was CEO of
Aetion, whose platform transforms real-world data into
regulatory-grade evidence for critical healthcare decisions. She
also previously served as CEO of Remedy Partners, the premier
bundled payments software and services company, and as Executive
Vice President of Payer Strategy and Operations at Evolent Health,
where she helped drive the company's progression from startup
through IPO. She also held several leadership roles at UnitedHealth
Group, including Chief Operating Officer of its Community and State
plan in New Jersey.
"Carolyn's extensive experience across payer, provider, and
pharmaceutical sectors makes her uniquely qualified to guide the
next generation of health tech innovators," said Lynne Chou O'Keefe, founder and managing partner
at Define Ventures. "Having had the privilege of partnering with
Carolyn as an advisor for many years, we're confident her deep
expertise, particularly in data and AI applications within the
pharmaceutical landscape, will be invaluable to our partner
companies."
"Define represents the best of venture — an incredible founder
community and a team of experienced operators who truly understand
what it takes to build in healthcare," said Magill. "Throughout my
career, I've worked across many corners of healthcare, and joining
Define allows me to bring that experience to the earliest stages of
innovation, helping founders turn ideas into impact."
Carolyn's appointment complements Define Ventures' existing
venture partners, Bruce Broussard,
former CEO of Humana, and Frank
Williams, co-founder and former CEO of Evolent Health,
creating a powerful trio of industry leaders with comprehensive
experience across payer, provider and pharmaceutical sectors.
Together, they bring unparalleled strategic depth to Define's
partner companies.
Define Ventures has $800 million
in assets under management and partners with companies at the seed,
series A and series B stages. The firm impacts leading health tech
entrepreneurs with its high conviction approach, partnering with
over two dozen companies including Hims & Hers (NYSE: HIMS),
Unite Us and Cohere Health.
To learn more about Define Ventures, visit www.definevc.com.
About Define Ventures
Define Ventures is one of the largest funds focused on
early-stage health tech companies. With $800
million AUM, we take a high conviction approach in
partnering with companies in the earliest stages. We believe the
future of healthcare will be defined by those who bring together a
deep understanding of the healthcare ecosystem paired with a
technology-driven mindset. Our team was built to this vision,
bringing together founders and investors who built
category-defining companies and delivered over $25 billion in exit value, including Livongo
(NYSE: LVGO), Evolent (NYSE: EVH), and Hims & Hers (NYSE:
HIMS).
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SOURCE Define Ventures
